PM Modi to visit Gujarat International Finance Tec-City on July 29

New Delhi: Prime Minister Narendra Narendra Modi is set to visit Gujarat International Finance Tec-City (GIFT City) on July 29. During his visit, PM Modi is scheduled to lay the foundation stone of the Headquarters Building of IFSCA. Moreover, PM will also launch NSE IFSC-SGX Connect.

During his visit, PM will lay the foundation stone of the Headquarters Building of IFSCA. PM will launch India International Bullion Exchange (IIBX), India’s first International Bullion Exchange in GIFT-IFSC. PM will also launch NSE IFSC-SGX Connect.

— ANI (@ANI) July 25, 2022

On the occasion Chief Minister of Gujarat Bhupendra Patel, Union Minister of Home Affairs and Co-operation Amit Shah, Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, Minister of Finance and Energy Kanubhai Desai, and others.

Meanwhile, PM Modi will launch India’s first International Bullion Exchange in GIFT-IFSC, India International Bullion Exchange (IIBX). It reported that IIBX will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India.

It is reported that this shall empower India to gain its rightful place in the global bullion market and serve the global value chain with integrity and quality. This will also re-enforce the commitment of the Government of India towards enabling India to be able to influence global bullion prices as a principal consumer.

Besides this, PM Modi will also launch NSE IFSC-SGX Connect.Under this Connect, all orders on NIFTY derivatives placed by members of Singapore Exchange Limited (SGX) will be routed to and matched on the NSE-IFSC order matching and trading platform. The said Connect will deepen liquidity in derivative markets at GIFT-IFSC, bringing in more international participants and creating a positive impact on the financial ecosystem in the GIFT-IFSC.